Salt Lake Telegram | 1916-08-04 | Page 12 | Financial, Mining News and Stock Reports

II FINANCIAL MINING NEWS AND STOCK R REPORTS PORTS I ACCURATE PRICES FUR fOR METALS ARE HARD Tl TO OBTAIN It If Is difficulty to get a good line tine on the metal market situation and there Is no certainty about the quotations that are coming here from the East Zinc Is Ia quoted from 7 H to 8 H cents and there are some ome wide margins In the copper quotations Of the zinc market an authority au- au says Bays While In some quarters the decline In Inthe Inthe Inthe the price Is attributed to the disappointment disappoint disappoint- ment in the domestic demand In comparison compari compari- Eon son with what It was the previous week and at the beginning of last ast week the thereal thereal thereal real cause is probably manipulation There seems to be a concerted effort on the part of the British French Italian and Russian gov governments together with large American consumers to withhold buying orders In order to depress the price of the metal meta It Is a well known fact that most of the big producers are sold Old up to the last quarter of the present havee have year Likewise the consumers filled their s up neto to the e last quarter e However et the time i h has now enter the come when consumers must market In order to cover their requirements requirements require require- ments menta for tor the balance of the year Some of the large Interests realizing that this buying on previous occasions has resulted In a sharp harp recovery have gotten the different different different dif dif- dif dif- ferent Interests together In order to hold to-hold hold the market down The numerous Inquiries in inquiries In- In quince which have come Into the market and which have failed to materialize In orders are positive proof that a buying movement of proportions Is about due The action of the London market In advancing on spot metal Is a healthy situation It also demonstrates that the trend of the foreign market is In the direction direction di direction di- di of higher prices and that stocks In the outside market there are ver very small ISmaIl and nd that England needs heeds the metal after alter having for a long time kept out orthe of or the American market True there has been some foreign purchasing In the past week but prior to that for weeks England England England Eng Eng- land had not bought a pound of ol metal